RBS pension ‘buys £83m air traffic control HQ’

The pension fund of the Royal Bank of Scotland has acquired the headquarters of the National Air Traffic Control Services (NATS), according to a report in Property Week.

The report said the RBS Group Pension Fund bought the 260,000 sq ft campus at Solent Business Park in Fareham, near Portsmouth, for a price believed to be around £83 million.

The pension fund beat off competition from Middle Eastern and other overseas investors to land the campus, which includes the heart of the UK’s air traffic control, from which all flights around the nation can be controlled, the report said.

Property Week said Internos Global bought the site on behalf of the pension fund from property investment firm Greenridge.

The report said Greenridge bought the NATS site in 2015 for £67 million from Israeli investor Igal Ahouvi, which bought the five office buildings from Goodman in 2009 for around £55 million.